Confidence from economic players up

30 de junho de 2016

The Brazilian minister of Finance said reliance on Brazil’s recovery is increasing and that the government’s team of economists is working to change the scenario around.

Brasília – The Brazilian minister of Finance Henrique Meirelles said this Thursday (30) that indicators of confidence from economic players are on the way up, but noted that it is up to the government to make sure macroeconomic conditions are in place, through its ability to manage public finances and through realistic financing through tax collection and debt management.

Attending a meeting at government seat Palácio do Planalto with the interim president Michel Temer and delegates from trade and business federation Confederação das Associações Comerciais e Empresariais do Brasil, Meirelles said the tax burden in Brazil is excessive. He stressed that for the current administration, proper management means collecting only the necessary amount.

According to the minister, economic indicators show that the confidence slump is reversing. Regarding the current scenario of weakening consumption, fear of unemployment, slowing production and fears of economic contraction among business owners, Meirelles said the government’s team of economists is turning the process around in order to change this “spiraling situation.”

*Translated by Gabriel Pomerancblum